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Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
BusinessDesk - Latest News [Page 28]
Power companies, investors weigh generation options
Friday, 9 August 2019, 3:31 pm | BusinessDesk
Aug. 9 (BusinessDesk) - Mercury NZ says it is aiming to have contractors on site to start work on its 119-megawatt Turitea wind farm this month. More >>
Bob Jones loses again in voidable transactions case
Friday, 9 August 2019, 2:41 pm | BusinessDesk
Aug. 9 (BusinessDesk) - Bob Jones has lost a Supreme Court appeal over rental payments to one of his companies for the firm formerly known as Blue Chip. More >>
Fewer Asian visitors in June offset by other increases
Friday, 9 August 2019, 2:27 pm | BusinessDesk
Aug. 9 (BusinessDesk) - A drop in the number of overseas visitors from Asia in June was offset by an increase from the US and Australia. More >>
SkyCity launches online gaming site
Friday, 9 August 2019, 12:53 pm | BusinessDesk
Aug. 9 (BusinessDesk) - SkyCity Entertainment Group has launched its online gaming site - skycitycasino.com - as it adapts to the changing gambling environment. More >>
Turners wins early battle in $5.5m lawsuit
Friday, 9 August 2019, 12:01 pm | BusinessDesk
Aug. 9 (BusinessDesk) - Turners Automotive Group has won a preliminary battle with the former owner of the Buy Right Cars dealerships it purchased in 2017. More >>
Vital's manager looking to invest more than $350 million
Friday, 9 August 2019, 11:18 am | BusinessDesk
Aug. 9 (BusinessDesk) - Vital Healthcare Property Trust’s manager is still looking for investment opportunities and believes the trust has more than $350 million of firepower. More >>
NZ dollar recovers on better China, US data
Friday, 9 August 2019, 11:16 am | BusinessDesk
Aug. 9 (BusinessDesk) - The New Zealand dollar firmed after stronger than expected trade data from China and a fall in US jobless claims gave global sentiment a boost. More >>
MARKET CLOSE: NZ shares extend gain
Thursday, 8 August 2019, 8:51 pm | BusinessDesk
Aug. 8 (BusinessDesk) - New Zealand shares rose for a second day, led by Kathmandu Holdings after the outdoor equipment chain beat earnings expectations and as record-low interest rates continue to support yield stocks. More >>
NZ dollar treads water after rate cut turmoil
Thursday, 8 August 2019, 8:50 pm | BusinessDesk
Aug. 8 (BusinessDesk) - The New Zealand dollar was little changed as the market absorbed the turmoil created in recent days by better-than-expected jobs data and the Reserve Bank’s surprise 50 basis point cut in its official cash rate. More >>
Tax programme to consider seismic strengthening inducements
Thursday, 8 August 2019, 8:50 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Inland Revenue's latest tax policy programme will consider ways to encourage seismic strengthening for both commercial and residential property in the short-term. More >>
MBIE to review exploration protest regime
Thursday, 8 August 2019, 8:11 pm | BusinessDesk
Aug. 8 (BusinessDesk) - The government’s processes for policing protest in New Zealand waters are to be tightened to ensure risks are properly assessed and responded to in a proportionate way, and that proper controls are maintained over how information ... More >>
RBNZ's Orr says investors need to put their money to work
Thursday, 8 August 2019, 8:00 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Reserve Bank governor Adrian Orr downplayed concerns that depositors will be hard hit by the latest rate cut, arguing that investors need to put their money to work better. More >>
IAG New Zealand boosts annual profit
Thursday, 8 August 2019, 4:20 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Insurance Australia Group's New Zealand division benefited from good weather in the past year, with a lack of natural peril claims and ongoing gross written premium growth driving a 79 percent jump in annual earnings. More >>
AMP renegotiates lower life unit sale price, keeps 20% stake
Thursday, 8 August 2019, 2:36 pm | BusinessDesk
Aug. 8 (BusinessDesk) - AMP remains determined to divest its New Zealand wealth management business after renegotiating the sale price of its life insurance business on both sides of the Tasman to Bermuda-based Resolution Life for A$3 billion. More >>
Kathmandu climbs to 4-month high on upgraded profit outlook
Thursday, 8 August 2019, 1:56 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Kathmandu Holdings' shares jumped to their highest level since April after the retailer said annual profit rose as much as 13 percent on faster sales growth across the Tasman and new contributions from its Oboz Footwear acquisition. More >>
Vital Healthcare annual profit falls 6.6% after $4.3m spend
Thursday, 8 August 2019, 1:37 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Vital Healthcare Property Trust’s annual net profit fell 6.6 percent after it spent $4.3 million evaluating a proposed purchase of Healthscope properties that most of its investors didn’t want to happen. More >>
CORRECT: Napier Port priced at top of the range
Thursday, 8 August 2019, 1:20 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Napier Port shares will sell at $2.60 - the top of the indicated range - after a bookbuild was significantly oversubscribed and investors at the front of the queue picked up a fifth of the stock on offer. More >>
Napier Port priced at top of the range; locals nab 20%
Thursday, 8 August 2019, 12:47 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Napier Port shares will sell at $2.60 - the top of the indicated range - after a bookbuild was significantly oversubscribed and investors at the front of the queue picked up a fifth of the stock on offer. More >>
Infratil expects $33m loss on Perth Energy sale
Thursday, 8 August 2019, 12:19 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Infratil says it may post a $33 million loss on the sale of its 80 percent stake in Perth Energy. More >>
NZ dollar pares losses
Thursday, 8 August 2019, 11:04 am | BusinessDesk
Aug. 8 (BusinessDesk) - The New Zealand dollar pared some of yesterday's steep losses as other central banks also cut rates, adding to the view that rates are going lower globally. More >>
